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Aon will boost its business insurance joint venture in China
Online Edition
LONDON-BASED Aon plc, the world's second-largest insurance broker by market value, said China is a top priority market of the company and will increase its input through its joint venture with COFCO.
"Nowadays risks are interconnected globally, and the risks facing the world may also happen in China," Greg Case, president and CEO of Aon Corp, said in Shanghai today. "China has top priority in our strategy and is the fastest growing market now."
Aon will contribute more data and analysis concerning the China market, and will use its global expertise to help more middle-sized companies hedge risks and find opportunities, Case said.
Clare Wu, CEO of Aon-COFCO, said the newly launched free trade zone in Shanghai may increase Chinese companies' exposure to foreign businesses and risks.
The company expects to expand yuan-denominated reinsurance business, marine insurance, and wider health-care insurance access in the free trade zone.
Aon and China National Cereals, Oils and Foodstuffs Corporation started the joint venture in 2003 with each holding a 50 percent stake.
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